Sandestin Beach Hotel, LTD 401(k) Review & Grade
Sandestin Beach Hotel, LTD 401(k) Retirement Savings Plan
Miramar Beach, FLAccommodation & Food Services505 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$839Employer $ per active participant
$1,675Employee $ saved per active participant
0.60%Direct admin cost, % of plan assets
$13.4MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity41.9 / 5084th percentile for employer $ per participant
- Low cost4.4 / 2518th percentile for low admin cost vs. same-size plans
- Employee saving11.9 / 1579th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score58 / 100 · Grade C
This plan vs. peers
Peers: Accommodation & Food Services plans with 500–2,499 active participants (458 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 84th |
| Lower admin cost | 18th |
| Employee saving | 79th |
| Peers that auto-enroll | 17% |
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Red flags from the filing
Corrective distributions: the plan refunded $13,773 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Sandestin Beach Hotel put in about $839 per active participant, more than the typical peer ($266). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Direct plan expenses (0.60% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $423,570 |
| Participant (employee) contributions | $845,805 |
| Other contributions (incl. rollovers in) | $0 |
| Administrative expenses paid from the plan | $75,970 |
| Investment advisory & management fees | $29,760 |
| Benefits paid out | $1,312,293 |
| Net assets, start / end of year | $12.1M / $13.4M |
| Active participants, start / end of year | 413 / 597 |
| Participants with account balances | 217 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $34,660 reported compensation |
| LPL Financial LLC | $29,760 reported compensation |
| Forvis Mazars, LLP | $11,550 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250919135849NAL0003642754001, received 2025-09-19, EIN 59-3398821, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.